Home-shopping network to buy Ladybird

Shop Direct, whose catalogue brands also include Kays and Great Universal, has beaten off competition from other retailers such as Mothercare for the right to buy Ladybird. It is not clear how much the home-shopping company is paying for the brand, one of the key assets being sold by Deloitte, the administrators to Woolworths. They are also hoping to sell Chad Valley, the toymaker.

The acquisition may come as a surprise to some, given that Shop Direct announced a big redundancy programme last week. It is closing a call centre in Crosby, Merseyside, and cutting a number of head-office roles. In total, 1,150 jobs could be affected, although some staff will be offered the chance to relocate.